Real Estate Briefing: Young Buyers Hesitate on Mortgages as Land Auctions Diverge and Projects Accelerate
The real estate market is showing mixed developments in demand, capital flows and access to housing. Apartment prices have risen far beyond the savings capacity of many buyers, while fluctuating mortgage rates, reaching 12.4% per year in one case, have made young people cautious about taking on loans lasting decades despite their desire for home ownership. Many developers are also seeking to transfer projects to recover capital and reduce financial pressure, while buyers are prioritizing assets that can be deployed quickly and generate cash flow. HoREA has proposed adding a mechanism allowing investors to negotiate for land-use rights to the draft Land Law, with the aim of removing obstacles for thousands of commercial housing projects. Land auctions continue to attract attention, but prices are becoming increasingly differentiated. A plot of more than 3,300 square meters in the Him Lam Thach Ban residential area in Long Bien is scheduled for auction on December 5, with a starting pr...